FTX’s Missing $400 Million Stolen in SIM-Swapping Hack, DOJ Says

Three people have been charged with orchestrating a SIM-swapping scam that siphoned more than $400 million from FTX as the cryptocurrency exchange spiraled into bankruptcy.

Hours after FTX filed for bankruptcy in November 2022, and its founder Sam Bankman-Fried resigned, hackers drained hundreds of millions of dollars worth of digital currency from the platform, before funneling it through a web of decentralized exchanges.

Bankman-Fried, who is facing decades in prison after being convicted of fraud late last year, distanced himself from the hack, but speculated that it could have been an inside job.

Turns out it wasn’t, prosecutors say.

The ...